Why Money Source is more than doubling its Phoenix-area presence in under a year

Mike Mirshahzadeh is so excited about the Valley as a place for his business to succeed, he sounds like the marketing arm of the Arizona Commerce Authority.

The chief revenue officer of Money Source liked the Valley so much, he moved here from San Francisco.

“I didn’t want to open an office in a city where I wouldn’t live,” Mirshahzadeh said. “Quality of life was very important in picking the Phoenix area in the first place.”

Money Source planted a second flag in Phoenix with 25,000 square feet in Papago Corporate Center II at Washington Street and Priest Drive. The CRO cites workforce quality, quality of life and business environment as the big reasons for expanding rapidly in metro Phoenix.

“We are so excited about the quality of workers we can hire, and the opportunity we’re offering people in the market,” said Mirshahzadeh. “There are people with service job experience, and Money Source offers an opportunity to take advantage of training and actively grow a career very quickly. It’s why we came to Tempe in the first place.

The first place is 10,000 square feet in Tempe starting out with just 30 employees servicing Money Source mortgages. Mirshahzadeh said the office was nearing capacity, and the company wanted to expand its sales force. Money Source buys mortgages from mortgage bankers, then funds and services loans. The Tempe office is now going to be filled with 100 employees.

“We’re going to be bursting at the seams,” he said. “We’re hiring around 30 people every month right now.”